Member Info for rivaldo

Ticking up again - last year's interims were out on 8th September, so shouldn't be long now. A reminder that the AGM outlook was encouraging as follows: "I am pleased to report that trading in the first quarter of 2016 is slightly ahead of management's expectations with both revenues and results being above those for the same period in 2015. While still early in the year, it is encouraging that the increase in revenues is being seen across all of the Group's product areas." ""With a number of new order prospects currently being negotiated and strong backing from the Group's existing order book, the Board anticipates that both the first half year and full year results will show good progress against those achieved in 2015."

Six Flags announced last night that "the company is expanding its park portfolio with the opening of a new water park in Mexico and introducing thrilling rides at each of its other locations across North America": Http://www.businesswire.com/news/home/20160901005410/en/ "Joining the proud Six Flags family of iconic theme and water parks: • Hurricane Harbor Oaxtepec Mexico in the beautiful state of Morelos. This tropical oasis will offer families a welcome summer retreat. The 67-acre park will feature an innovative new hybrid waterslide, a multi-level water play structure, a wave pool and a tranquil lazy river, among numerous other fun water attractions all set among a lush, inviting landscape. Hurricane Harbor Oaxtepec will be Six Flags’ 19th park, and is scheduled to open in February 2017. "

Http://www.risersandfallers.com/2016/09/02/analysts-at-finncap-reiterated-constellation-healthcare-technologies-inc-loncht-as-corporate/

Wonderful HI results today, together with an outlook which suggests beating expectations: Http://www.investegate.co.uk/constellation-health--cht-/rns/interim-results/201609020700087662I/ CHT made around 8.3p EPS in H1 alone, putting them on track to beat forecasts. Plus they have $10m net cash and rising following the paydown of debt post H1. With only 4 months till the year end this type of outlook comment has to mean that CHT are in line to beat the forecasts of 15.22p EPS: "At this point in time we feel very confident having delivered above expectations for the first half of 2016, that we will meet the markets guidance on revenue as well as profits for the full year 2016." Finncap's target price is 310p - this should help things along nicely.

Good to see the upwards movement on small volumes. Not much stock around.

SFR win work on a £70m contract for the new No.1 Court at Wimbledon: Http://www.expressandstar.com/business/business-picks/2016/08/30/barnshaws-metal-bending-skill-wins-new-work-for-wimbledon/ "Greg North, commercial director at Barnshaws Metal Bending, said the firm would be working with the steel work contractor on the project, Severfield. The two have frequently worked together, in particular on the Centre Court project. Work on the Number 1 Court reconstruction started after this year’s championships, and the retractable roof is due to be first used in 2019"

BLTG issue a report revealing that failure rates are much greater with iPhones than Android devices: Http://www.cio.com/article/3112762/smartphones/iphones-are-much-more-likely-to-fail-than-androids.html

Certainly looking better now, with the full year trading update coming in four weeks or so. It's worth remembering the outlook in the H1 results: "The growth in our order book and good cash generation gives the Board confidence that the Group will deliver strong results for the full financial year"

Cantor have downgraded and cut forecasts to 23p EPS this year. BMS will remain on my watchlist for a recovery in its markets, but a 366p share price puts BMS on a P/E of almost 16, which is surely too high. It may be difficult to sustain this price level imo at that rating: "Profit warning – BMS has issued a profit warning. Tanker markets have seen lower activity levels and freight rates which has led to reduced revenues. In the dry cargo markets, the company states that despite healthy demand and good transaction volumes, overcapacity continues to depress freight rates to historically low levels. Cost cutting measures have been put in place to reduce costs in this area. BMS’s vessel sale & purchase and offshore desks continue to perform in line with management expectations, with similar levels of activity to the previous year. Generally, USD denominated earnings in these divisions will benefit from the weakness of GBP if the exchange rate is sustained at current levels. In the Technical services division, the slowdown in oil & gas exploration and new project work continues to impact surveying and engineering businesses, particularly in relation to offshore activity. To respond to these tough market conditions, the company has already made a number of senior management changes in the Technical division. The Logistics division continues to perform in line with management expectations. As a result of these events, earnings for the year ending 28 February 2017 for the group will be “materially” lower than for 2016. BMS further states that it is “well financed” with a strong balance sheet and “substantial” order book, cost cutting measures and new divisional management should lead to an improvement in underlying performance. We cut our forecasts for underlying operating profit for FY17 by over 30% to £9m and our EPS is cut by 24% to 23p. Cuts are made to divisional profits in Shipbroking and Technical. Our FY18 and FY19 forecasts are placed under review. Our recommendation is changed to HOLD from BUY, our TP is placed under review. Interim results will be released on Tuesday 25 October, 2016.

4.3m shares traded today, almost all at 13p - and immediately afterwards we get a tick up on cue. Good stuff - INSE could be in for a good run now if the seller has been cleared out.

Continuing today - up 3p on less than £3k of buys :o)) Not much stock around it seems.

FYI from Peel Hunt per FT Alphaville yesterday - note that there does not need to be any change in CAR's pension contributions for almost 3 years! In the meantime, it's pointless to overreact to figures which are completely hypothetical. In 2-3 years' time, non-one knows where bond yields will be. For one thing, it would seem that right now we are at or near the low point - in 2-3 years' time yields may be back at where they were or even better. CAR are fine as regards cash/working capital, and indeed the divi news will improve matters. I for one certainly wasn't invested here for the divi, but for the growth, and there won't be many if any income funds invested here. CAR are likely to report extremely impressive numbers for H1 and indeed for the year to March'17. This, and reflection upon the relative non-issue of the pension fund for the next 2-3 years, may help the share price recover from imo an overdone beating. "The Group has enjoyed a strong start to the year with continued momentum within the two largest divisions. In the short term, this is overshadowed by news that the reduction in corporate bond yields and subsequent increase in the IAS19 pension deficit, is now expected to prevent dividend distribution. However, we remain focused on the capacity expansion and new business pipeline that underpins our strong PBT growth forecasts to March 2019. With the shares trading on a Mar'17 PER of 14.1x, falling to 12.0x Mar'18, we are maintaining our 190p target price and Buy recommendation. The next triennial review of the pension deficit is not due until March 2018, with the negotiations with the pension trustees unlikely to conclude before early 2019. As a result, we do not anticipate any change in the pension deficit reduction payments in the near-term. Net of the FX translation headwind and reduced cash outflow with respect to the dividend, we have trimmed our year-end net debt forecasts by £0.4m to £25.6m. If no dividend is declared in respect of FY2017, net debt is now forecast to reduce to £21.5m at March 2018, less than 1.2x EBITDA."

Lots of press today about new hacks in the banking sector, disclosed in a report from SWIFT, the global financial transfer administrators: Http://www.dailymail.co.uk/wires/reuters/article-3766151/SWIFT-discloses-cyber-thefts-pressures-banks-security.html "SWIFT told banks Tuesday that it might report them to regulators and banking partners if they failed to meet a November 19 deadline for installing the latest version of its software, which includes new security features designed to thwart the type of attacks described in its letter." The significance for NCC? Well, NCC acquired Fox-IT last November. It so happens that Fox-IT are one of two partners appointed by SWIFT recently (in July) to "complement SWIFT’s in-house cyber security expertise and work closely with SWIFT’s newly formed Customer Security Intelligence team to support SWIFT’s customer information sharing initiative and to help strengthen cyber security across the global SWIFT community": Https://www.swift.com/insights/press-releases/swift-engages-expert-cyber-security-firms-and-establishes-dedicated-customer-security-intelligence-team-0

New CEO and analyst comment here: Http ://www.proactiveinvestors.co.uk/companies/news/129875/inspired-energy-posts-stellar-interim-performance-129875.html?utm_source=Sign-Up.to&utm_medium=email&utm_campaign=7163-356345-proactivity+-+31%2F08%2F2016 "Inspired Energy posts stellar interim performance 13:57 31 Aug 2016 Revenues in the six months to June 30 rose 56% to £10.16mln, adjusted profits advanced 44% to £3.31mln The latest set of results from Inspired Energy plc (LON:INSE) revealed a company in rude health, both financially and operationally. The AIM-listed group, which procures gas and electricity for companies, many of them large, blue-chip businesses, made major gains across the piece. Revenues in the six months to June 30 rose 56% to £10.16mln, adjusted profits advanced 44% to £3.31mln, while the dividend grew by just under third to 0.13p. A stellar performance This stellar performance was achieved while integrating two decent sized acquisitions, Wholesale Power UK Ltd and STC Energy and Carbon Holdings. The latter cost an initial £9mln, making it the firm’s biggest transaction to date. Stripping out the financial impact of the two recent purchases, organic growth was strong. And it should be noted the home-grown improvement was achieved without expanding the workforce. Cash generation for the period was £2.55mln, which reflects the increase in weighting of the corporate division, which helps large energy-hungry businesses such as foundries and food manufacturing buy gas and electricity. Corporate was responsible for 72% of turnover, compared with 68% this time last year, with the percentage contribution from small and medium-sized firms falling to 24%. Chief executive Janet Thornton is happy with the growth in this base of larger customers - which, it should be pointed out - hasn’t come at the expense of its smaller clients. Providing consultancy and procurement services for large businesses generates a strong and stable earnings stream, renewal rates are high and there is the opportunity to cross-sell other products and services. “We will see more of that as the switch continues into corporate,” Thornton told Proactive Investors. Order pipeline in excess of £25mln An order pipeline in excess of £25mln would tend to support that comment. Looking at the balance sheet, the company is carrying around £8mln of debt, which at one-times EBITDA is “manageable”, said finance director Paul Connor. In fact, there may even some headroom to make modest further acquisitions, he added. And there are opportunities out there, according to CEO Thornton with tighter regulation acting as a driver. “For some smaller businesses of say 10-15 staff, they can’t meet the current requirements. "So they are prepared to sell; in fact it means there are a lot of businesses for sale,̶

Nice - RNS out showing a new major shareholder. The Argonaut Fund has 1.926m shares and has increased to 3.19%: Http://www.investegate.co.uk/creston-plc--cre-/rns/holding-s--in-company/201608311034035454I/

Totally overdone drop on small volumes - a bargain imho. Macaumike, CAR does benefit in trading terms from the weaker pound, and this will show through in H2 onwards. However, the movement in bond yields post-Brexit has separately increased the pension deficit. This in itself doesn't matter too much as the deficit has been and is easily manageable by CAR. But as a purely technical matter, CAR's distributable reserves (note NOT CAR's cash, which is fine) have been reduced by prior year write-offs of CDT etc, so they're at a low level and need replenishing before the divi can be paid. The matter is purely administrative and will be dealt with in one of the ways I suggested above, i.e utilising other reserves by going to court and transferring them to distributable reserves, or via intercompany charges. It's a real shame this technical issue deflects attention away from the very good trading update.

Http://www.investegate.co.uk/carclo-plc--car-/rns/update-on-trading-and-dividend/201608310700104776I/ - good growth and trading in line with year end expectations - TP has had a "very good start", with additional production volumes awarded and Indian and Chinese expansion - Wipac performing well and Optics finding "strong demand" - the latter is a definite upturn - Aerospace trading nicely in line The dividend postponement due to the pension deficit/lack of distributable reserves is a bit of a turn up, but undoubtedly, as the RNS notes, there will be a way of creating such reserves, probably via intercompany management charges or going to court to utilise other reserves like the share premium account in the usual way.

Nice tip for INSE just out: Http://money.aol.co.uk/2016/08/30/do-todays-results-make-inspired-energy-plc-a-better-buy-than-centrica-plc/ "Growth prospect Inspired Energy today reported a "strong performance" for the first half of the year, "delivering record growth on all fronts." Revenue was 56% higher than in the first half last year at £10.2m from £6.5m. Cash generated from operations was up 34% to £2.55m from £1.91m. Meanwhile, the procurement corporate order book -- "which provides strong visibility of revenues and is a consistent guide to the future performance of the [core] Corporate Division" -- increased by 69% to £25.7m from £15.2m. The growth was boosted by two acquisitions in the second half of last year, but the performance is pretty impressive all the same. The acquisitions have been integrated on target and within budget and management is investigating further opportunities to "participate in industry consolidation." The criteria management has set for acquisitions look eminently sensible to me and combined with organic growth momentum suggest this business could have a bright future. Major shareholders -- who include key directors and notable small-cap institutional investors Miton Asset Management, Hargreave Hale and Slater Investments -- would appear to agree. The shares are trading at 13.75p, and with 480,215,860 shares in issue, the market capitalisation is £66m. I can see little in the way of coverage by City analysts, but annualising the first-half earnings per share of 0.62p gives an attractive full-year P/E of 11.1, and -- with year-on-year earnings growth of 24% -- an equally attractive price-to-earnings growth (PEG) ratio of 0.46. With a dividend yield in excess of 3% to boot, I rate the stock a buy."

Not announced on RNS, but that's not to say it isn't earnings-enhancing as it would have to been paid for with cash (any share issue would have to be RNS'd): Http://www.irishnews.com/business/2016/08/25/news/staffline-completes-third-acquisition-in-a-year-666861/ "25 August, 2016 01:00 ONE of Ireland's largest recruiters Staffline Ireland is expanding again with yet another acquisition. The company, headed up by Tina McKenzie has taken over Hugh J O'Boyle Training in Downpatrick. It is the third acquisition for Staffline in the north this year, where it is parent company to PeoplePlus NI. The business acquired Paragon Training in February and Diamond Recruitment Group last October. Headquartered in Newtownabbey, Staffline Ireland began operations in February 2013 with a mission to reach £100m turnover by the end of 2017. And the latest acquisition puts it well on the way, reaching an estimated turnover of £65m for 2016. etc"

This new article is really worth reading for the huge potential for Peppa in China: Http://www.awn.com/news/eone-s-peppa-pig-gains-momentum-china Extracts: "eOne's Peppa Pig Gains Momentum in China With more than 4.5 billion views in just nine months on IQIY, Youku and Tudou, Entertainment One secures new VOD deals; Peppa products now available from major Chinese retailers." "LONDON -- Entertainment One (eOne) has announced details of Peppa Pig's rapidly growing popularity in China. Since launching on-air in Mainland China in 2015, eOne's Peppa Pig has surpassed 5.4 billion views on its three on demand platforms, IQIY, Youku and Tudou. It is one of the most popular programs for pre-schoolers on state television broadcaster CCTV, where its repeat was the No. 1 animated show in its 7am timeslot. Peppa Pig also launched on VOD portals Tencent and LeEco in May 2016. To date Peppa episodes have already clocked up 1.7 billion views on Tencent and 850 million views on LeEco, making it the No. 1 animation on both platforms since its launch. In addition, Mango TV has recently acquired the rights to Peppa Pig and the VOD platform debuted the series earlier this month in Mandarin." "The Peppa Pig apps eOne has released to date have had tremendous download rates, making China the biggest territory for Peppa app downloads worldwide. Following their entrance on the App Store in late 2015, Peppa’s Paintbox and Peppa’s Actvitiy Maker have been hugely popular in China, with over 400,000 and 195,000 downloads respectively." "Toys are spearheading the brand’s licensing program in China and a newly launched Peppa Pig Ferris Wheel playset was sold exclusively at Toys “R� Us stores nationwide during the country’s Children’s Day celebrations in June 2016. The publishing category also continues to accelerate. A new series of Peppa Pig storybooks launched at retail in April 2016 and over 75k copies have been distributed nationally both online and in-store. Peppa Pig products will also have a presence in China’s first Hamleys toy store that is set to open its doors on October 10th. eOne’s Hong Kong team is developing bespoke Peppa artwork for a branded bay in the store."